Advised by Glenny, Orchard Street Investment Management LLP has signed a 37,000 sq ft letting with Transport for London (TfL) at its Woodford Green industrial estate.
TfL has agreed to a fifteen-year lease across three of the estate’s units, at a headline rent of £14.00 psf, and will use the space to operate its East London Dial-a-Ride service, its door-to-door minibus service which is accessible to those unable to use other forms of public transport, including those with long-term disabilities.
Peter Higgins, Divisional Director in Glenny’s Business Space Agency team, comments: “Woodford Green is a strategically located estate that benefits from strong road links and an environmentally conscious design. More than ever, occupiers are looking for modern warehouse accommodation that ticks all the right ESG boxes and we were delighted to act on this instruction, advising Orchard Street on the deal and supporting TfL on sourcing the site.”
Orchard Street was advised by Glenny and JLL while TfL was advised by its internal property team with Glenny helping TfL to source the site.